Bulls Rush In as Crocs, Inc. (CROX) Stays Hot

Crocs, Inc. (NASDAQ:CROX) has been pushing higher for a few months now

by Josh Selway

Published on May 15, 2015 at 2:57 PM
Updated on May 15, 2015 at 2:57 PM

Since hitting a multi-year low of $10.25 on Feb. 27, Crocs, Inc. (NASDAQ:CROX) has been on fire. The shares have added over 53% since then, and have outpaced the broader S&P 500 Index (SPX) by over 37 percentage points during the last three months. Today, CROX is 2.7% higher at $15.70, amid news that the company's president and CEO each bought 10,000 shares each. This has gotten the attention of option traders, as more than 4,000 calls have crossed today, compared to fewer than 300 puts.

The May 16 call -- which expires at today's close -- is the most targeted contract by far, as traders bet on the shares toppling $16 by 4 p.m. ET. As of now, the equity's intraday high stands at $16.05.

This is quite the change of pace for CROX option traders. According to data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 50-day put/call volume ratio of 1.25 is higher than 87% of readings from the past year.

Options traders aren't the only ones skeptical of Crocs, Inc. (NASDAQ:CROX). The 13.7% of the stock's float sold short would take nine sessions to buy, at its average daily volumes. However, there are some optimistic analysts -- four of seven brokerage firms rate CROX a "buy" or better.


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Top Lithium Play of 2020
Click to continue to advertiser's site.
First Week in April Provides More Coronavirus-Related Volatility
A slew of coronavirus-related news sent markets on another weekly roller coaster ride
Netflix Stock Heading into Historically Bullish Quarter
NFLX's 10-day moving average has stepped up as support lately
The Top Lithium Play of 2020
Click to continue to advertiser's site.